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NetEase: 3Q Earnings Snapshot

NetEase: 3Q Earnings Snapshot

Associated Press

BEIJING (AP) _ NetEase Inc. (NTES) on Wednesday reported third-quarter net income of $232.4 million.

The Beijing-based company said it had net income of $1.80 per share. Earnings, adjusted for non-recurring costs, came to $2.55 per share.

The internet technology company posted revenue of $2.45 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.

NetEase shares have declined 36 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $219.71, a decrease of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTES at https://www.zacks.com/ap/NTES